DeutschRevolut is partnering with Binance’s Trust Wallet. Customers of the bank can easily purchase cryptocurrencies and have the purchased coins paid out directly to their non-custodial wallet. The new function is even said to waive fees. The British neobank wants to improve its influence in the crypto industry through a series of measures.
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Revolut: New partnership to boost crypto trading
The British neobank Revolut is further expanding its crypto offering – as CoinDesk reported in a report. An official press release from Revolut did not exist at the time of going to press.
“Fintech giant Revolut and Trust Wallet (…) announced on Thursday that they are joining forces to make crypto purchases faster and easier for European users without them having to give up control of their assets,” it says there.
The new function is to function via the Revolut Pay payment service and enable users to make particularly cheap crypto investments. Accordingly, there are no trading fees at all. With Bitcoin, Ethereum, Solana, USDC and USDT, five different cryptos are initially available. More coins are to follow in the future.
Investors can make the payment either via debit cards, credit cards or a bank transfer. The acquired cryptocurrencies are then paid out directly to the user’s blockchain address, provided it is a Trust Wallet.
Thanks to the elimination of fees, the new offer not only offers particularly cheap coins, but also more security for investors. Customers do not run the risk of leaving their funds in the custody of a service provider for a long time. The counterparty risk decreases.
Trust Wallet is a non-custodial wallet from the developer Binance. Binance, the largest crypto exchange on earth, acquired the program in 2018 in order to be able to provide customers with their own wallet software.
Revolut wants to strengthen its position as a crypto trading platform
Revolut is currently working hard to strengthen its position as a trading platform for cryptocurrencies. In 2017, the neobank introduced cryptocurrencies for the first time – but at that time only as an investment that could not be withdrawn.
Revolut has only been offering its customers crypto withdrawals since 2023 and has since been competing with crypto exchanges. With trading fees of up to two percent, the British bank is still significantly more expensive than its competitors in the blockchain industry.
In 2024, Revolut finally introduced a trading platform with extended functionality under the name Revolut X. In October, the bank acquired a MiCA license in Cyprus. Under the requirements of the crypto law, the bank may therefore continue to operate as a crypto service provider and serve customers in the European Union.
CoinDesk suggests in its report that Revolut wants to increasingly appeal to die-hard crypto enthusiasts with its refreshed offering.
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